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. >> you said you'd cut the deficit in half. >> the way we do it is $2.50 for every cut we asked for $1 of additional revenue paid for, as i indicated earlier, by asking those of us who have done very well in this country to contribute a little bit more to reduce the deficit. >> the president insisted romney would spend $5 trillion on tax breaks favoring the wealthy. >> math, common sense and our history shows us that's not a recipe for job growth. >> everything he just said about my tax plan is inaccurate. >> reporter: they clashed on wall street, whether banks should be too big to fail and medicare. >> cutting $716 million to balance obama care is in my opinion a mistake. >> if you repeal obama care, and i have become fond of this term, obama care, if you repeal it, what happens is those seniors are going to be paying $600 more in prescription care. >> reporter: the fiercest exchange over health care and jobs. >> i just don't know how the president could have come into office facing 23 million out of work, rising unemployment, an economic crisis at the kitchen table and spent his e
. >> you said you'd cut the deficit in half. >> the way we do it is $2.50 for every cut we asked for $1 of additional revenue paid for, as i indicated earlier, by asking those of us who have done very well in this country to contribute a little bit more to reduce the deficit. >> the president insisted romney would spend $5 trillion on tax breaks favoring the wealthy. >> math, common sense and our history shows us that's not a recipe for job growth. >> everything he...
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bowles co-chaired the white house deficit commission in 2010. back to you. >> okay, thank you very much. we'll check back a little later on. >>> first day of october going to feel like july. >> it's not going to feel good. it is not going to feel good at all. >> in the pool. >> yeah, in the pool if you can jump into the ocean, it's actually going to be refreshing today. you're getting some pretty warm temperatures out there in the pacific, if you have the luxury of not having to go to work. if you do have to go to work, you want to get right to the shady spot before the other guy does because it's going to be hot out there or just do what i do, bring your windshield visor. temperatures are looking good out there right now. crystal clear conditions to start. no marine layer, no fog to tell you about anywhere over the greater bay area. that's going to be the case today. that's the reason why we're starting out so warm. we're going to really be warm this afternoon. calm winds for now coming out of the northeast, which is an offshore flow. we let th
bowles co-chaired the white house deficit commission in 2010. back to you. >> okay, thank you very much. we'll check back a little later on. >>> first day of october going to feel like july. >> it's not going to feel good. it is not going to feel good at all. >> in the pool. >> yeah, in the pool if you can jump into the ocean, it's actually going to be refreshing today. you're getting some pretty warm temperatures out there in the pacific, if you have the luxury...
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. >> you said you'd cut the deficit in half. it's four years later, we still have trillion-dollar deficit. >> the way we do is for additional cut, we ask for a dollar of additional revenue, paid for, as i indicated earlier, by asking those of us who have done very well in this country to contribute a little bit more to reduce the deficit. >> reporter: the president insisted romney would spend $5 trillion on tax breaks favoring the wealthy. >> math, common sense and our history shows us that's not a recipe for job growth. >> everything he just said about my tax plan is inaccurate. >> reporter: they clashed on wall street, whether banks should be too big to fail, and medicare. >> cutting $716 billion from medicare to be able to balance the additional cost of obama care is, in my opinion, a mistake. >> if you repeal obama care, and i have become fond of this term, obama care, if you repeal it, what happens is those seniors right away are going to be paying $600 more in prescription care. >> reporter: the fiercest exchange over heal
. >> you said you'd cut the deficit in half. it's four years later, we still have trillion-dollar deficit. >> the way we do is for additional cut, we ask for a dollar of additional revenue, paid for, as i indicated earlier, by asking those of us who have done very well in this country to contribute a little bit more to reduce the deficit. >> reporter: the president insisted romney would spend $5 trillion on tax breaks favoring the wealthy. >> math, common sense and our...
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mitt romney doesn't have a deficit plan. he has a plan to cut taxes for millionaires and billionaires. one thing that will be interesting wednesday if he'll finally explain how his math adds up. he has a $5 trillion tax cut, on top of a $5 trillion to extend the bush cuts, and another $2 trillion in defense spending that our leaders say they don't need. $8 trillion. he says he's not going to add to the deficit. if he's not going to add to the deficit, the middle class better watch out because they'll pay the burden if he is elected because the hole is just too big. and it will be interesting on wednesday. if he says he's not going to burden the middle class, then he's going to blow a hole in the deficit. >> will we see president obama here on "meet the press" before election day? >> well, there's 37 days left, so we'll stay in contact about it. >> all right. we hope to see him here. mr. plouffe, thank you. >> thank you, david. >>> coming up, what are the stakes for both campaigns? the roundtable will get into it. founder of
mitt romney doesn't have a deficit plan. he has a plan to cut taxes for millionaires and billionaires. one thing that will be interesting wednesday if he'll finally explain how his math adds up. he has a $5 trillion tax cut, on top of a $5 trillion to extend the bush cuts, and another $2 trillion in defense spending that our leaders say they don't need. $8 trillion. he says he's not going to add to the deficit. if he's not going to add to the deficit, the middle class better watch out because...
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what i've said is i won't put in place a tax cut that adds to the deficit. >> for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big bold idea is never mind. >> let me repeat what i said. i'm not in favor of a $5 trillion tax cut, that's not my plan. >> reporter: another stark difference, medicare, one of the few times the president played aggressor. >> it's called premium support, but it's understood to be a voucher program. >> and you don't support that? >> i don't. and let me explain why. >> again, that's for future people, not current retirees. >> so if you're 54 or 55, you might want to listen because this, this will affect you. >> reporter: still, romney seemed to control many of the back and forths, even the lighter moments. >> i apologize, mr. president, i use that term with all respect. >> i like it. >> good. >> the difference in their debate demeanors was most evident during the closing statements. >> you know, four years ago we were going through a major crisis. and yet, my faith and confidence in the american fut
what i've said is i won't put in place a tax cut that adds to the deficit. >> for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big bold idea is never mind. >> let me repeat what i said. i'm not in favor of a $5 trillion tax cut, that's not my plan. >> reporter: another stark difference, medicare, one of the few times the president played aggressor. >> it's called premium support, but it's understood to be a...
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the same kinds of policies that we pursued over the last eight years is not going to bring down the deficit. and frankly senator mccain voted for 4-5 of president bush's budgets. >> senator obama, i am not president bush. if you wanted to run against president bush you should have run four years ago. chris: there's an example of a well-prepared -- we knew, i'm sure senator mccain knew that was coming. you notice how he did that automatically? this time around it's more dangerous, isn't it? for president obama to blame a guy four years ago. >> yeah, because people are going to say, what did you do lately? you've had four years to fix the economy and look at the economic malaise we're still in. look at the jobs reports. last month, adding 96,000 jobs. not even enough to keep pace with population growth. chris: we put the first debate to the matthews meter. 12 of our regulars, including john, kelly and howard is mitt romney more likely to break through wednesday night on style points or on substantive arguments? nine say substance. three say style. you voted with the majority. howard, -- >> we
the same kinds of policies that we pursued over the last eight years is not going to bring down the deficit. and frankly senator mccain voted for 4-5 of president bush's budgets. >> senator obama, i am not president bush. if you wanted to run against president bush you should have run four years ago. chris: there's an example of a well-prepared -- we knew, i'm sure senator mccain knew that was coming. you notice how he did that automatically? this time around it's more dangerous, isn't...
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enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit or burdenning the middle class, it is math, -- arithmetic. >> i like the way we did it in massachusetts. >> reporter: romney said he would repeople obama care but not all the parts people like. >> number one, preexisting conditions are covered under my plan. young people are able to stay on their family plan. >> the president: what your plan does is duplicate what already law. >> reporter: the president's responses did not pin romney to what he said during the prime reese and he was able to reframe his positions. >> you have to have regulation there's some parts of dodd-frank that make sense. >> reporter: where romney was weakest was in specifics. the president aid that point many >> the president: at some point the american people have to ask is the reason governor romney is keeping all these plans to replace secret, because they are too good? >> reporter: tom time and again romney had last word. >> i have to -- >> i have to respond which is my experience as a governor, if i come in
enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit or burdenning the middle class, it is math, -- arithmetic. >> i like the way we did it in massachusetts. >> reporter: romney said he would repeople obama care but not all the parts people like. >> number one, preexisting conditions are covered under my plan. young people are able to stay on their family plan. >> the president: what your plan does is duplicate what...
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aisle to get things done, whether it was reducing taxes on the middle class, you know, reducing our deficit, cutting $1 trillion worth of spending. he's open and ready to do that, continued to do that over the next four years, but on election day, i think americans will send a very strong signal to the people in washington, that it's time for republicans to drop their intransigence of protecting tax cuts for the wealthy, come to the table and -- and get some stuff done. >> i want to ask you about vice president biden's remarks yesterday. conservatives have seized on them. he said that the middle class has been buried for the last four years. your campaign has pointed out he meant because of republican policies. that said, do you wish the vice president had chosen different words? >> no, absolutely not. in fact, we'll probably debate this tonight, that the middle class has been pressed over the past four years because of the very same policies that mitt romney and paul ryan are promising to go back to. let's talk about that tax cut that mitt romney won't tell us how he's going to pay for it.
aisle to get things done, whether it was reducing taxes on the middle class, you know, reducing our deficit, cutting $1 trillion worth of spending. he's open and ready to do that, continued to do that over the next four years, but on election day, i think americans will send a very strong signal to the people in washington, that it's time for republicans to drop their intransigence of protecting tax cuts for the wealthy, come to the table and -- and get some stuff done. >> i want to ask...
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we have to close our deficit. we will discuss how we deal with our tax code and how we make sure we are reducing spending in a response away and have enough revenue to make those investments. governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cut. $2 trillion in additional military spending -- without dumping the cost on the middle-class americans. that is one of the central questions of this campaign. >> you have spoken about a lot of different things. governor romney, do you have a question you would like to ask directly about something he just said? >> i do not have a tax-cut scale you're talking about. we have to provide tax relief to people in the middle class. i will not reduce the share of taxes paid by high income people. they are doing fine in the economy. the people who are having a hard time are middle-income americans. under the president's policies, they have been buried. middle income americans have seen their income decreased by $4,300. th
we have to close our deficit. we will discuss how we deal with our tax code and how we make sure we are reducing spending in a response away and have enough revenue to make those investments. governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cut. $2 trillion in additional military spending -- without dumping the cost on the middle-class americans. that is one of the central questions of this campaign. >> you have spoken about a...
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if you elect me, i will put through my plan to refinance the deficits is, switch to opec busting job creating natural gases, lower taxes on dividends, educate the masses on money, clean the skies, rebuild our infrastructure and reappoint ben scotty bernanke to give liberty, justice and higher stock prices for all. that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today regarding rpm. the earning report came out today. i'm trying to find out whether it should be long or short in the stock. >> short that, you have to short that plentiful dividend. i never recommend that idea. you don't want to do that, boss. i was going to recommend this and then i felt that the upside was very, very limited. good numbers. i should have done it. for heaven's say, i really did kick myself with this one. i thought if i recommended it, the stock would go up too much. ron in louisiana. ron? >> caller: jim. i've got to thank you. you're the best. i've been investing for 55 years and didn't m
if you elect me, i will put through my plan to refinance the deficits is, switch to opec busting job creating natural gases, lower taxes on dividends, educate the masses on money, clean the skies, rebuild our infrastructure and reappoint ben scotty bernanke to give liberty, justice and higher stock prices for all. that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today...
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in half, four years later we still have trillion dollar deficit. if you are reelected we'll get to a trillion dollar debt. >> romney tacked the president saying he spent most of -- attacked the president saying he spent most of his energy pushing through health care instead of focusing on job creation. >> the president: at some point i think the american people have to ask is the reason governor romney is keeping all these plans to replace secret, because they are too good? is it because that somehow middle class families are going to benefit too much from them? >> pundits are saying no knock-out punch by either. they are saying romney's aggressive performance was what he needed for his campaign. next debate in kentucky a week from today biden against ryan. >>> the san francisco archdiocese will install a new archbishop at a special mass this afternoon. two thousand people are expected to watch cordileone become the city's 9th archbishop he was appointed in july to replace retiring ash bishop -- archbishop george niederauer. cordileone is a staunch
in half, four years later we still have trillion dollar deficit. if you are reelected we'll get to a trillion dollar debt. >> romney tacked the president saying he spent most of -- attacked the president saying he spent most of his energy pushing through health care instead of focusing on job creation. >> the president: at some point i think the american people have to ask is the reason governor romney is keeping all these plans to replace secret, because they are too good? is it...
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to slash forty billion euros out of their deficit by next year as we've seen other nations that have taken the poison pill of austerity particularly greece these new spending cuts will only make the situation worse situation in spain is already so bad that the cataloging a region of spain called for an early election at the end of november which could be a vote for independence from spain altogether is the region runs into its own financial problems so where is all this leading to here for some answers is david marty activist member of the international organization for the participatory society in madrid chapter and co-author of the book fanfare for the future occupy strategy david welcome and thanks for joining us from madrid thanks for staying up late to talk with us throughout thank you for having me much appreciate it we've seen pretty violent protests in the streets of spain over the last few days how unstable is the country what reaction is there to and is it all a reaction in this new budget. if you tried to. see violence isn't instability miles would just only took place bet
to slash forty billion euros out of their deficit by next year as we've seen other nations that have taken the poison pill of austerity particularly greece these new spending cuts will only make the situation worse situation in spain is already so bad that the cataloging a region of spain called for an early election at the end of november which could be a vote for independence from spain altogether is the region runs into its own financial problems so where is all this leading to here for some...
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. >> my number one principal said there will be no tax cut that adds to the deficit to a void the middle-class, it is maddening. >> he -- room room emphasized his campaign principles. >> look at the last four years, we have 23 million people out of work. >> the debate was low on drama and high on energy if i cannily from mitt romney. -- particularly from mitt romney. >> he seized upon that opportunity and i didn't think president barack obama was rusty so much that nobody has spoken to him like that over the last four years. >>> and the real test for the candidates come on november 6th. >>> the last debate is in florida. sandra endo, pam, back to you. >>> and right now the valley does not allow registered sex offenders to decorate their homes for halloween. some are required to put a sign on their door saying no treats or candy will be offered. now they say it violates their civil rights. >> i don't really want my kid going and trick or treating at a sex offenders house but that is what i am here for. >>> that's it voters approve the death penalty. if that happens 75-year-old for those who sho
. >> my number one principal said there will be no tax cut that adds to the deficit to a void the middle-class, it is maddening. >> he -- room room emphasized his campaign principles. >> look at the last four years, we have 23 million people out of work. >> the debate was low on drama and high on energy if i cannily from mitt romney. -- particularly from mitt romney. >> he seized upon that opportunity and i didn't think president barack obama was rusty so much that...
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do we want four more years of trillion dollar deficits? i don't believe we can afford four more years like the last four years. lou: a new report highlights governor rome -- governor romney's criticisms showing household incomes fell by an average rate of more than 8%. the census bureau revealing the number of people in poverty rose by 3 million in the first three years of the obama administration. we'll take all of that here tonight with former economic adviser to president reagan, economists, author laffer, and digital politics editor, and former bush adviser brad blakeman to separate facts from fiction in the world of presidential polls and strategies. early voting has presidential votes cast in more than half the country by next week. shannon has our report. the president's poll numbers in ohio getting a boost from stronger economic numbers, but there's head winds pressuring the campaign. the white house chief correspondent, ed henry, reports. >> since early voting starts tuesday here in ohio, it was a familiar script for president oba
do we want four more years of trillion dollar deficits? i don't believe we can afford four more years like the last four years. lou: a new report highlights governor rome -- governor romney's criticisms showing household incomes fell by an average rate of more than 8%. the census bureau revealing the number of people in poverty rose by 3 million in the first three years of the obama administration. we'll take all of that here tonight with former economic adviser to president reagan, economists,...
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the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong track. i think this for the president is not about mitt romney. those advantages, chuck, on china, foreign policy and the deficit aren't as strong as for usual republicans. and the final point i would make is i think the important thing for this election is that braump has a 52 positive, 42 negative image. mitt romney has a negative image. only two have had a net negative image at this point and one of them loss, george h.w. bush and romney needs to improve that dynamic. >> democratic pollster. thank you very much to both of you. we have to get back in the field. let's keep poling. just two days away from friday's jobs report. we will get a quick preview on wall street on the market run down. and then we are taking a tr
the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong track. i think this for the president is not about mitt romney. those advantages, chuck, on china, foreign policy and the deficit aren't as strong as for usual republicans. and...
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to do more so i put forward a specific $4 trillion deficit reduction plan. it's on a website. you can look at all the numbers, what cuts we make and what revenue we raise. >> reporter: that estimate comes from the left leaning center on budget and policy priorities. 3.8 trillion to be exact over ten years. the president is counting money saved by letting the bush tax cuts expire for people making more than $250,000 a year, but he's also counting $1 trillion in savings over ten years by drawing down the wars in iraq and afghanistan. the bipartisan nonprofit committee for responsible federal budget has called that a gimmick because those wars were deficit financed in the first place and the president is also counting on savings agreed to last year when the white house and congress agreed to raise the debt ceiling. >>> that was nbc's andrea mitchell reporting. >>> here's some other stories making news today in early days. a convicted robbery defendant surprised his public defender with a round house punch to the face after receiving a 15 year sentence. the brut
to do more so i put forward a specific $4 trillion deficit reduction plan. it's on a website. you can look at all the numbers, what cuts we make and what revenue we raise. >> reporter: that estimate comes from the left leaning center on budget and policy priorities. 3.8 trillion to be exact over ten years. the president is counting money saved by letting the bush tax cuts expire for people making more than $250,000 a year, but he's also counting $1 trillion in savings over ten years by...
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dollar deficit. if you are reelected we'll get to a trillion dollar debt. >> romney actaed the president's handling of the economy saying mr. obama spent most of his energy pushing through sweeping overhaul of health care instead of focusing on job creation. >> the president: at some point, i think the american people have to ask is the reason that governor romney is keeping all these plans to replace secret, balls they are too good? is it because that some -- because they are too good? is it because that somehow middle class families will benefit too much? >> pundits are saying romney's aggressive performance last night was what he needed to do to generate much needed momentum for his campaign. >> bay area voters tuned in to watch and react. >> romney was came out much stronger than probably obama figured he would. >> i think obama kept his cool. i think he has answered everything in reasonable, honest, nonmud-slinging way. >> there was also reaction to the performance of the moderator, many critiqu
dollar deficit. if you are reelected we'll get to a trillion dollar debt. >> romney actaed the president's handling of the economy saying mr. obama spent most of his energy pushing through sweeping overhaul of health care instead of focusing on job creation. >> the president: at some point, i think the american people have to ask is the reason that governor romney is keeping all these plans to replace secret, balls they are too good? is it because that some -- because they are too...
SFGTV2: San Francisco Government Television
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i have be asked to testify whether or not psycho paths have affective deficits. absolutely they do. there has been hundreds of years of psychiatric research shows that they do. you have this two prong thing. on the one hand more dangerous if you release them and don't treat them. on the other hand, they're affectively different. there was a very nice article in the "new york times" magazine on mother's day about children who have these emerging traits and how we would develop and understand and treat them. it's a small percentage. my goal is to develop better treatment so they can keep them off that trajectory towards life course persistent problems. >> are you saying that people that have the brain structure that you have identified will always be lacking in volitional control or impulse receive to the extent that they are criminals? do we have a subset of people that are criminals because of their brains? >> i should really differentiate psychopathy from criminality. there are a lot of reasons why individuals engage in different criminal activity. it's a very small percentage of p
i have be asked to testify whether or not psycho paths have affective deficits. absolutely they do. there has been hundreds of years of psychiatric research shows that they do. you have this two prong thing. on the one hand more dangerous if you release them and don't treat them. on the other hand, they're affectively different. there was a very nice article in the "new york times" magazine on mother's day about children who have these emerging traits and how we would develop and...
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we ended up moving from surplus to deficits. and it all culminated in the worst financial crise since the great depression. bill clinton tried the approach that i'm talking about. we created 23 million new jobs. we went from deficit to surplus, and businesses did very well. so in some ways, we've got some data on which approach is more likely to create jobs and opportunity for americans and i believe that the economy works best when middle-class families are getting tax breaks so that they've got some money in their pockets, and those of us who have done extraordinarily well because of this magnificent country that we live in, that we can afford to do a little bit more to make sure we're not blowing up the deficit. >> jim, the president began this segment, so i think i get the last word, so i'm going to take it. >> lehrer: you're going to get the first word in this segment. >> let me just make this comment-- let me repeat what i said. i'm not in favor of a $5 trillion tax cut. that's not my plan. my plan is not to put in place a
we ended up moving from surplus to deficits. and it all culminated in the worst financial crise since the great depression. bill clinton tried the approach that i'm talking about. we created 23 million new jobs. we went from deficit to surplus, and businesses did very well. so in some ways, we've got some data on which approach is more likely to create jobs and opportunity for americans and i believe that the economy works best when middle-class families are getting tax breaks so that they've...
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no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as they're paying now. >> but they shouldn't pay more. >> i thought one of the best lines is that basically we're tired of trickle down government. and he turned the tables on the president. we have the president who believes it will government is the last answer to everything. do you think that is going to be a political liability in the state of florida? >> well, keep in mind, he brought up pretty forcefully that the president cut medicare. he also said that look, we are going to keep medicare exactly as it is for those 55 years or older. but we have to do something to help th
no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as...
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he slammed republicans and the bush administration for the skyrocketing deficit. >> by the time the reigns got turned back over to barack and me, they had doubled the national debt in eight years. >> with his path to the white house shrinking, florida is looking like a must-win area for romney. but his running mate ryan focused on new hampshire. the granite state has just four electoral votes, but ryan said it could be the difference in a race that will come down to a handful of states. >> thank you, granite staters, for sending mitt romney to the white house and barack obama back to chicago. >> the campaign shifts into a different stage with the high stakes showdown for president obama and romney. >> if you take a look at the history of the debates, it's not about policies or facts. every change that happens in a debate if you look at history, it changes because of somebody's mannerisms or style. they either did badly or well. >> both will spend the next few days in intense prep sessions. trailing in the polls, romney may have the most on the line and his campaign is look at this debate a
he slammed republicans and the bush administration for the skyrocketing deficit. >> by the time the reigns got turned back over to barack and me, they had doubled the national debt in eight years. >> with his path to the white house shrinking, florida is looking like a must-win area for romney. but his running mate ryan focused on new hampshire. the granite state has just four electoral votes, but ryan said it could be the difference in a race that will come down to a handful of...
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deficit reduction plan. >> my number one principle is there'll be no tax cut that adds to the deficit. >> reporter: the president challenged thnumbers. >> it is not possible to come up with enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit, or burden the middle class. it's -- it's mad. >> reporter: romney emphasized one of the campaign principles. >> it's absolutely extraordinary, we have 23 million people out of work. >> reporter: the debate low on drama and high on energy particularly from romney. >> the format lent itself to one of the candidates; i think he set the standard for it. i didn't think the president was rusty as much as i don't think anybody has ever spoken to him like that over the last four years. >> reporter: the real test comes on november 6th no matter what happened last night. the next presidential debate takes place on october 16th in new york. and the third at the end of the month in florida. the vice presidential candidates square off next week in kentucky. reporting live in denver, i'm sandra endo. bac
deficit reduction plan. >> my number one principle is there'll be no tax cut that adds to the deficit. >> reporter: the president challenged thnumbers. >> it is not possible to come up with enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit, or burden the middle class. it's -- it's mad. >> reporter: romney emphasized one of the campaign principles. >> it's absolutely extraordinary, we have 23 million people...
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. >> there are three ways you can cut the deficit. one is to raise taxes. no. two is to cut spending. number three is to grow the economy. if more people work, they are paying taxes and you can get the job done that way. the president would prefer raising taxes. the problem is that it slows down the rate of growth. you can never quite get the job done. i want to lower spending and encourage economic growth at the same time. what would i come from spending? i would eliminate all programs by this test if they do not pass it. is is so critical it is worth borrowing money from china to pay for? if not, i would cut it. obamacare is on my list. i use that term with all respect. >> i love it. >> i will stop subsidies to pbs. i will not keep spending money on things to borrow money to pay for it. i will take programs that are currently good programs, but if you run more efficiently at the state level. number three, i will make government more efficient and cut back the number of employees. i will combine some agencies and departments. cutbacks will be done through attr
. >> there are three ways you can cut the deficit. one is to raise taxes. no. two is to cut spending. number three is to grow the economy. if more people work, they are paying taxes and you can get the job done that way. the president would prefer raising taxes. the problem is that it slows down the rate of growth. you can never quite get the job done. i want to lower spending and encourage economic growth at the same time. what would i come from spending? i would eliminate all programs...
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no tax cut that adds to the deficit. i want to reduce the burden being paid by middle income americans. to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is not accurate. >> let's talk about taxes, because i think it is instructive. four years ago when i stood on this stage i said i would cut taxes for middle class families. that's exactly what i did. we cut taxes for middle class families by about $33,600. -- by about $3,600. the reason is, i believe we do best when the middle class does well. and by giving them those tax ts, they have a little more money in their pocket so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession we went through. they can buy a computer for their kid who is going off to college. it means they are spending more money, businesses have more profits and then hire more workers. now governor romney's proposal that he's been promoting for 18 months calls for a $5 trillion tax cu
no tax cut that adds to the deficit. i want to reduce the burden being paid by middle income americans. to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is not accurate. >> let's talk about taxes, because i think it is instructive. four years ago when i stood on this stage i said i would cut taxes for middle class families. that's exactly what i did. we cut taxes for middle class families by about $33,600. -- by about...
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mitt romney, doesn't have a deficit reduction plan. he wants to spend $2 trillion more in defense, $5 trillion more in a tax cut won't tell us how you pay for, before you even start talking about deficit reduction. it's a joke to think mitt romney will actually take action to redaus the deficit. >> taxes, this week he did come out with this proposal of eliminating $17,000 in deductions. >> right. >> your response to that? >> well, you know, he left out a number of different details of that proposal but i would also say that limiting deductions to $17,000 for middle-class families still results in a tax increase. even in just the health premium deduction, for families last year, were about $15,000. there you go. what happens to the mortgage deduction, charitable deduction, child deduction. he's raising taxes on middle class families. >> if this comes up and mitt romney starts to do that math that paul ryan wouldn't do, i'm sure this will be a topic of discussion. >> how worried are you about the jobs report on friday? >> we face this ev
mitt romney, doesn't have a deficit reduction plan. he wants to spend $2 trillion more in defense, $5 trillion more in a tax cut won't tell us how you pay for, before you even start talking about deficit reduction. it's a joke to think mitt romney will actually take action to redaus the deficit. >> taxes, this week he did come out with this proposal of eliminating $17,000 in deductions. >> right. >> your response to that? >> well, you know, he left out a number of...
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. >> the only way to meet governor romney's pledge of not reducing the deficit or not adding to the deficit is by burdening middle class families, the average middle class family with children would pay $2,000 more. >> others have estimated the total value of the tax cuts would be some $5 trillion over ten years. governor romney says he will keep it deficit neutral and pledges there is one thing he won't do no matter what. >> i will not under any circumstances, raise taxes on middle income families. i will lower taxes on middle income families. now, you kite a study. there is six other studies that looked at the study you described and say it's completely wrong. >> the president based his assertion about a $2,000 tax increase on a study by the tax policy center which had exempted some tax deductions from any cuts in its analysis. then it concluded the plan could only be deficit neutral with a tax hike on the middle class and obama ads are hammering away. >> why won't obama level with us about the tax plans. >> the tax policy center, however, later changed its assessment. it said if romney p
. >> the only way to meet governor romney's pledge of not reducing the deficit or not adding to the deficit is by burdening middle class families, the average middle class family with children would pay $2,000 more. >> others have estimated the total value of the tax cuts would be some $5 trillion over ten years. governor romney says he will keep it deficit neutral and pledges there is one thing he won't do no matter what. >> i will not under any circumstances, raise taxes on...
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. >> we were expecting to have a deficit that was going to be about 7% of the economy and it turned out to be 9%. we did not have the time to react. so weak in our political manifesto, the main aim was that we were going to give spain what it needed. there were not actual promises but as a general promised to try to manage the situation. the figures were worse but we were struggling. >> what would the opposition socialist to differently? spain has one of the biggest property bubbles followed by the collapse. >> we want comprehensive reform of the fiscal system. it has to be more progressive. we know in spain that corporations only pay 11% from their benefits. at the same time, there is a large number of citizens who do not pay taxes to income tax. they are liberal professions like people who put all their revenues inside society. we believe there has to be changes and we have to have a more comprehensive system that is able to control everybody. >> won the budget was announced, it was predictable. this economy has already seen 65 billion euros out of it this year. today was confirmed a
. >> we were expecting to have a deficit that was going to be about 7% of the economy and it turned out to be 9%. we did not have the time to react. so weak in our political manifesto, the main aim was that we were going to give spain what it needed. there were not actual promises but as a general promised to try to manage the situation. the figures were worse but we were struggling. >> what would the opposition socialist to differently? spain has one of the biggest property bubbles...
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the federal subsidy for pbs in 2012 doesn't make up a huge part of this deficit. for example, 2012, the federal subsidy for pbs was $444 million. if you compare that to romney's plan for the federal budget, you'll see how miniscule it is. pbs subsidy, $444 million. but if you look at the tax breaks to oil and gas companies that romney defended last night, those add up to $4 billion this year alone. and take a look at mitt romney's plan for the defense budget. he wants to increase spending by $2 trillion over the next ten years. so, i mean, big bird is a big diversion to what he's really talking about in terms of the deficit. >> well, i think those of us out here crave specifics from governor romney. and when he's talked about this in the past, he's often thrown big bird under the bus. i don't know what would happen if he threw big bird under the bass. maybe the bus would go off the road. but never the let's, he has this little set piece he does. do you want to know what i'll cut? i'll cut pbs and big bird, the national endowment of humanities and the amtrak subsid
the federal subsidy for pbs in 2012 doesn't make up a huge part of this deficit. for example, 2012, the federal subsidy for pbs was $444 million. if you compare that to romney's plan for the federal budget, you'll see how miniscule it is. pbs subsidy, $444 million. but if you look at the tax breaks to oil and gas companies that romney defended last night, those add up to $4 billion this year alone. and take a look at mitt romney's plan for the defense budget. he wants to increase spending by $2...